Horizontal vs. Vertical Property: What’s the Difference When Buying in Greece?

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If you’re thinking about buying a home in Greece, you might come across two legal terms that sound simple but carry a lot of implications: Horizontal and vertical property. At first glance, these might seem like just technical distinctions. In reality, they affect everything from what kind of home you can buy to how much freedom you have in managing and modifying it, to what type of maintenance responsibilities you’ll face later on.

What Does Horizontal Ownership Mean in Greece?

Let’s start with the basics. A horizontal property refers to an apartment within a shared building, such as a floor or a specific section of a structure, typically found in urban environments. When you buy such a property, you are buying part of a broader complex that includes common areas, stairs, rooftops, plumbing infrastructure, and shared walls. You will own your unit exclusively, but also share ownership and responsibilities for the rest of the building with the other owners.

This means you’re subject to a building regulation agreement (Κανονισμός Πολυκατοικίας), which dictates everything from how repairs are handled to what alterations are allowed, and even rules around noise or short-term rentals. These regulations are important because they set expectations in shared spaces. For instance, installing solar panels on the roof or making changes to the façade of the building requires permission from the other co-owners. In short, horizontal ownership often comes with a set of compromises due to the communal nature of the property.

What Is Vertical Ownership and Where Is It Found?

On the other hand, a vertical property is a self-contained house that’s part of a larger plot. It could be one of two or more detached or semi-detached homes built on the same piece of land. Each home is independently owned and has exclusive use over specific parts of the land (like the garden or swimming pool area), while the land as a whole remains under joint ownership. Unlike in horizontal ownership, the co-owners of vertical properties often manage their own maintenance separately. There might still be a common agreement in place, particularly if the access roads or utilities are shared, but generally, there is more autonomy. This setup is particularly popular in rural and suburban areas where land plots are larger and building densities are lower.

Which Type of Ownership Is Best for You?

That depends entirely on your needs and preferences. If you’re looking for a low-maintenance option in an urban setting or want to buy a pied-à-terre in a Greek city with managed common areas, horizontal ownership may suit you best. You’ll have a clear set of rules to follow, with responsibilities shared among co-owners.

If you’re seeking more privacy, outdoor space, and greater independence, especially if you plan to live there long term or rent the home seasonally, vertical ownership is often the better fit. It’s ideal for families or retirees who want more flexibility without frequent consultation with neighbors.

What Should Buyers Look Out for?

Regardless of which type of ownership you choose, legal clarity is essential. The structure of ownership, along with rights and obligations, should be clearly described in the property’s title deed and the building’s regulation agreement. During due diligence, your lawyer will examine all relevant documents to ensure that the unit you are buying is legally defined, properly registered, and free of encumbrances or disputes.

Both horizontal and vertical properties can be excellent investments, but knowing the difference is vital to choosing the one that aligns with your goals, whether you’re buying a holiday home, relocating, or investing in the Greek real estate market.

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